Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 1,400 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock in a transaction dated Thursday, July 2nd. The stock was bought at an average cost of $71.97 per share, with a total value of $100,758.00. Following the completion of the transaction, the insider owned 491,712 shares in the company, valued at approximately $35,388,512.64. This represents a 0.29% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $71.99 per share, with a total value of $22,460.88.
• On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $66.87 per share, for a total transaction of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Stock Performance

Shares of Sol-Gel Technologies stock opened at $74.01 on Friday. The company has a market capitalization of $207.97 million, a PE ratio of -217.67 and a beta of 1.12. The company has a 50-day simple moving average of $72.78 and a two-hundred day simple moving average of $69.77. Sol-Gel Technologies Ltd. has a one year low of $6.96 and a one year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings data on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. On average, equities analysts predict that Sol-Gel Technologies Ltd. will post -9.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SLGL. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings downgraded shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. TD Cowen began coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating on the stock. Finally, Mizuho assumed coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Hedge Funds Weigh In On Sol-Gel Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies in the first quarter valued at about $2,773,000. Opaleye Management Inc. raised its position in shares of Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies during the 4th quarter worth about $748,000. 26.18% of the stock is currently owned by institutional investors and hedge funds.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.